Making sure you have a good credit score is more important today than ever before. Not only is it crucial to helping you get the best interest rates possible when applying for any type of loan, it could mean the difference as to whether you can even find a job, if you're looking for one.
More and more, employers are now pulling your credit report to determine your risk. Typically people with good credit are not going to steal; they seem to have their life in order, etc.
So if you have had some bumps and bruises on your credit report, now is the time to get a recent copy of your free credit report and start working on your credit. Here are some areas you need to focus on to increase your FICO score.
If you have credit cards, make sure they are current. Late or past due credit is a killer on your credit score. And focus on trying to get your available credit limit versus your balances under 60%. If you have a bunch of credit cards and they are all maxed out, your credit score will be low.
If you have any collections on your credit, you must get them paid off. Until you do, your credit score will suffer significantly. Collections will stay on your credit report for 7 years and will not just go away. The quickest way to get your credit score up is by paying off collections.
The banking industry will never be same again because of the amount of mortgage foreclosures. The lending industry is tightening so much currently that families with good credit could have problems getting loans. So make sure it's not too late, if you are getting ready to make a big purchase like a new home, make sure your credit is in line with today's times.
Borrowing money is only going to get tougher. So instead of being told NO when you apply, learn how to get a YES by getting your FICO score as high as you possibly can.
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Best Buyer’s Broker Realty is an Exclusive Buyer Agent that specializes in Long Island real estate (Nassau and Suffolk properties) and its neighboring Queens county.
We don’t take any seller listings (yet we have more homes for you to see than most agents) and never represent sellers. We represent buyers only, 100% of the time. We can show you more homes for sale because we have access to MLS, FSBOs, Exclusives (homes that agents try to keep secret), foreclosures and homes not on the market that may be of interest to you.
We are not your traditional real estate agent. Our goal is to advise and protect home buyers and help them obtain the lowest price and best terms on their dream home. Call us at 516-887-6901 to see how we can help you save time and money.
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